ERISA estoppel: say what you mean and mean what you say

Estoppel is rapidly becoming part of ERISA litigation. However, as employers, TPAs and other entities associated with ERISA plans learn to take precautions against erroneous representations, estoppel litigation may subside.     

What you export matters

When local cost discovery generates knowledge spillovers, specialization patterns become partly indeterminate and the mix of goods that a country produces may have important implications for economic growth. We demonstrate this proposition formally and adduce some empirical support for it. We construct an index of the “income level of a country’s exports,” document its properties, and show that it predicts subsequent economic growth.     

What you don't see can't hurt you: an economic analysis of morality laws

Abstract.  This paper provides an efficiency explanation for regulation of sex, drugs, and gambling. We propose that these 'morality laws' can be explained by considering some activities to impose a negative externality when the activity is observed . Efficiency requires discretion by the individual who engages in such activities. When discretion is difficult to regulate directly, the activities can instead be proscribed, thereby giving individuals incentive to hide their actions from others. We find conditions for the first-best levels of consumption and hiding to be implementable. Since some level of activity is efficient, the optimal sanctions are not maximal.